European private equity firm Benson Elliot Capital Management said on Monday it had raised €510 million ($655 million) for its second pan-European fund, which will acquire distressed real estate assets.
The firm said in a statement it expected ongoing disruptions in the global financial markets to create a steady flow of distressed investment opportunities, as investors seek to reduce their exposure to the property sector.
“The next few years will offer a once-in-a-generation opportunity for savvy investors to buy great assets, in major markets like the UK and Germany, on sensible terms,” said Marc Mogull, Managing Partner at Benson Elliot.
Subscribers to the fund are institutional investors from Europe, North America and Asia, including corporate and public pension funds, endowments, foundations and family offices, Benson Elliot said. (Reuters)